City Point, a languishing retail and housing development in downtown Brooklyn, is finally breaking ground using money provided by the stimulus. The first phase of development, to be paid for from a $20 million bond offering backed by the New York City government, will include 50,000 square feet of retail, which will deliver in 2012. An additional 450,000 square feet of retail and 1 million feet of affordable and market-rate housing will follow in the next phase.

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